Royal London Asset Management Ltd. Acquires 7,279 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Royal London Asset Management Ltd. raised its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 324,611 shares of the bank's stock after acquiring an additional 7,279 shares during the period. Royal London Asset Management Ltd.'s holdings in Bank of New York Mellon were worth $23,327,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Studio Investment Management LLC grew its position in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after acquiring an additional 134 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after purchasing an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock valued at $928,000 after buying an additional 142 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of Bank of New York Mellon by 2.7% in the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock valued at $393,000 after buying an additional 143 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BK shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday, November 11th. UBS Group lifted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Citigroup boosted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.77.

Bank of New York Mellon Stock Down 1.2 %

BK stock traded down $0.98 during trading hours on Friday, reaching $80.51. 2,509,660 shares of the stock were exchanged, compared to its average volume of 3,167,267. The firm's 50-day moving average is $76.79 and its 200-day moving average is $68.08. The Bank of New York Mellon Co. has a 12 month low of $47.60 and a 12 month high of $82.72. The company has a market cap of $58.54 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. Bank of New York Mellon's dividend payout ratio is 40.87%.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.